Payroll; compensation that a business must pay to its employees for a set period of time or on a given date. Payroll is usually managed by the accounting department of a business. Payroll can differ from one pay period to another due to overtime, sick pay and other variables. Payroll and HR applications should always be logically integrated because they have a lot of data in common and because they both support the same compensation processes.  For example, compensation is generally planned in Hr but delivered through the payroll system. The earnings types and benefits in the payroll system had better be the same ones defined in the compensation plan! After all, payroll is the vehicle for implementing the compensation plan. Organizations can derive major, long-term benefits from defining and documenting the logical integration of payroll and HR, regardless of the physical solution they ultimately choose.



HR; The department that finds, screens, recruits and trains job applicants, as well as administers employee-benefit programs.

Personnel

Employee benefits, including health, medical and life insurance, retirement plans and cafeteria plans. HR management, including recruiting, hiring and firing; dealing with sick time and vacation time.know more..

Payroll

Payroll; compensation that a business must pay to its employees for a set period of time or on a given date. Payroll is usually managed by the accounting department of a business.know more..



Compiere Information - The Community Edition


The CE is a complete solution with no licencing fees. However Sovereign offers different options for deploying Enterprise solutions--from on-site installation to managed hosting to a fully outsourced environment. Remember the CE has no implementation, support or maintenance options, you must contract for those services.

Any solution can be implemented separately or as an integrated whole–and if required, can interface with your legacy system as part of a best-of-breed approach. We can start implementing any solution as per your requirement and tailor it to your needs and business processes.

And instead of paying hefty amounts to set up your own hardware and data bank, you can access any functionality of Compiere on SaaS basis as a tactical or strategic solution in our own highly secure data center outside of your office. You therefore pay only for what you use and can focus on the business rather than worrying on technical and maintenance aspects. You will be billed only by the number of users. 

This is especially ideal for medium to small size financial organizations that immediately needs to deploy the system but also for start-up companies. You will save on costs of having an IT team to maintain an application and no software is to be installed on your end. In addition, support, maintenance and upgrades are all-inclusive.

The Simple Way to Get Up and Running Quickly

The installation of Compiere solutions may be simple and quick, but the solutions are able to manage all types of products from the simplest to the most complex.

Compiere solutions are also available via a “Model Implementation” which suits small companies to help them get up and running quickly–regardless of their locations, product range, and industry. This is also suitable for established firms that need to quickly deploy a strategic or tactical solution.

Compiere solutions install easily with the help of simple, graphical wizards that walk you through the entire process with no complex scripts. You can start working immediately because Compiere solutions come with a pre-configured set of processes, products and reports that work straight from the box. You can then customize your own processes, reports, and add new products as required even without any programming knowledge.

IFRS compliant reporting

Compiere solutions come with an extensive range of functionality to address requirements of both local and international rules and standards. Compiere solutions deliver pre-defined, automated IFRS-compliant accounting templates that cover the accounting requirements of financial institutions. These templates can be used by any firm such as investment banks, private banks, retail banks, asset management firms or any financial institution.

Integrated Report Writer

Compiere solutions have an integrated report writer that easily and efficiently converts your data to generate customized reports, charts and graphs.

Create and customize your own reports, statements and fact sheets for bothusers and clients–at all levels
User-friendly graphical wizard walks you through each step in the creation of the report Print and export your reports in a variety of formats for ease of analysisincluding PDF, Excel, and HTML formats
Create comprehensive, analytical and graphical reports
Minimal training required for users to generate reports
Deliver your reports via e-mail or on your website through on demand (pull) and event-based (push) delivery modes

Open platform and integrated system

Compiere solutions provide customers with a powerful, open platform for the efficient deployment and management of powerful financial applications. They are integrated applications, enabling enterprise data connectivity with existing legacy environments and rich content management capabilities. Main features are as follows:

> Real time Integrated system, Front to Back-Office
> Based on an Oracle Database
> Front-end is based on a thin client technology
> CRM is web enabled
> Integration with legacy systems
> Platform: Windows and Unix

Middleware and Components Support

Compiere's open technology provides the middleware needed to build distributed banking software applications. Compiere also supports middleware standards such as Enterprise JavaBeans and is not limited to any middleware. Compiere features a component framework, enabling firms to integrate external application components and other business processes.

Easy ERP and Legacy Systems Integration

Compiere platform can be easily and rapidly integrated with ERP and other legacy systems, protecting past investments and enabling organizations to deploy integrated banking IT solutions



The Cloud

The origin of the term cloud computing is unclear. The expression cloud is commonly used in science to describe a large agglomeration of objects that visually appear from a distance as a cloud and describes any set of things whose details are not inspected further in a given context. Another explanation is that the old programs draw network schematics surrounded the icons for servers with a circle, and a cluster of servers in a network diagram had several overlapping circles, which resembled a cloud.

Users routinely face difficult business problems. Cloud computing adopts concepts  from Service-oriented Architecture (SOA) that can help the user break these  problems into services that can be integrated to provide a solution. Cloud  computing provides all of its resources as services, and makes use of the well- established standards and best practices gained in the domain of SOA to allow  global and easy access to cloud services in a standardized way.

Cloud computing also leverages concepts from utility computing to provide metrics  for the services used. Such metrics are at the core of the public cloud pay-per- use models. In addition, measured services are an essential part of the feedback  loop in autonomic computing, allowing services to scale on-demand and to perform  automatic failure recovery.

Cloud computing exhibits the following key characteristics:

  • Cost benefit 
  • Hardware and location independence 
  • Central Maintenance 
  • Performance 
  • Security 
  • Scalability 

 



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